UK Measured Economic Policy Uncertainty In Context

Menzie Chinn
By Menzie Chinn of Econbrowser
Professor of Public Affairs and Economics at the University of Wisconsin •

In some ways, policy uncertainty — at least as measured using text — is not as bad as I would’ve thought. Here’s the Baker-Bloom-Davis index:

Unsplash

In some ways, policy uncertainty — at least as measured using text — is not as bad as I would’ve thought. Here’s the Baker-Bloom-Davis index:

Figure 1: UK Economic Policy Uncertainty (blue), and centered 7 day moving average (red). ECRI defined recession dates shaded gray. Source: policyuncertainty.com, ECRI and author’s calculations.

The 9/27 value of 732 is way below the Brexit referendum value of 2661. On the other hand…tomorrow is another day!

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